Rupeek gets $30 million from Bertelsmann, Accel, Sequoia

AHMEDABAD: Fintech startup Rupeek has raised $30 million, led by Bertelsmann India Investments, with participation from existing investors Accel and Sequoia India.

The funding is expected to be completed in two tranches, and will be used for product development and market expansion. Rupeek disburses gold loans at an annual run rate of more than $150 million.

It is growing 20% month-on-month, the firm claims. Rupeek is disrupting traditional brick-and-mortar lending models by leveraging tech to operate with a branchless model and passes on the benefit of lower operational costs to customers.


“We would like to bring transparency in the lending space and protect retail investor interest at all costs. We will be using our proprietary tech hardware to ensure standardisation, fairness and scalability in gold purity assessment. The investment will also help us rapidly scale across new markets,” said Rupeek CEO Sumit Maniyar.